The Impact of Corporate Financial Restructuring on the Wealth Effect of Shareholders - Taking A company as Example
Wang, Wei Ting
|關鍵字:||財務重整;股東財富效果;個案研究;事件研究法;財務危機;Financial restructuring;Shareholder wealth effect;Event study;Financial crisis;Case study|
In the economic boom, many companies can earn high profits. But when the economic situation downhill, companies inevitably have to face the decline in profits, or even a great loss. At this time, the company is likely to have financial difficulties. The so-called financial difficulties, generally refers to the company's operating cash flow is not enough to pay its debt. After the Asian financial turmoil, many listed companies have financial difficulties, and forced to reorganize their debt, some even only declared bankruptcy. This study takes Company A Company as an example to discuss the impact of corporate financial crisis on debt and debt negotiation on the future financial situation of the company and the effect of shareholders' wealth. Based on the paper of Miss Liu Zhixiu, the paper extends Taiwan's largest panel factory In 2010 after the merger with the industry after facing all kinds of financial difficulties, and through debt and debt negotiations to reverse the crisis. By analyzing the operational risks and financial difficulties faced by the case companies, we can understand the potential causes of the financial crisis and follow the way of the follow-up enterprises, and discuss the effect of the shareholders' wealth, and discuss the internal and organizational objectives of the enterprises after the financial crisis Innovation, so that the company can quickly and flexibly respond to market challenges, to return to its past profit and competitive advantage between the shareholders of the trend of change. This study divides the debt crisis that the company encounters into three stages, and studies the major events in each stage, and then discusses the results of the abnormal remuneration to the shareholders, and draws the conclusion.
|Appears in Collections:||Thesis|